Unless you have been living under a rock, you know the Internet has radically changed society. In real estate, this has led to a massive surge in for sale by owner properties on the web.
For Sale By Owner and the Web
In the past, choosing to go the path of “For Sale By Owner” could turn out to be incredibly difficult and overbearing. Realtors dominated the market because they had proprietary access to the multiple listing service, known as MLS, and you had to be listed in it if you wanted your property to be seen. Thankfully, the Internet has made selling a home yourself incredibly easy in a variety of ways.
If we flash back 10 years to the pre-internet days, we would find a real estate market that looks foreign to what we have today. In that market, the number one method for selling your home was to list it in the multiple listing service controlled by real estate agents. This, of course, allowed them to get their hooks into you and squeeze out a commission regardless of the quality of service they provided. If we flash forward to the present day, we find a new landscape.
A 2005 study of homebuyers across the United States revealed a fact that most realtors are loath to admit to, but know exists. Over 70 percent of homebuyers shop for potential properties on the internet. Yes, seven out of every 10 are hopping online and finding the property of their dreams. Why? The reason is very simple. Would you rather drive all over town looking at homes that don’t really match what you are after and blowing your valuable time or would you prefer to sit at your computer and click through properties with pictures? Unless you really love driving, the answer is obvious.
In our modern society, time is the most valuable asset. Listing your property on the internet is a huge time saver because it is all point and click. If you are selling, you can upload descriptions and pictures for buyers to view. If you are buying, you can see pictures of both the inside and outside of potential properties while relaxing at your desk. Either way, it beats sitting in traffic while driving all over town.